Africa is home to some of the world’s most abundant and valuable mineral resources, but for too long, the continent has been exploited by foreign investors who take away the raw materials without adding value or creating jobs.

That is about to change, according to Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, who was elected as the pioneer chairman of the Africa Minerals Strategy Group (AMSG) on Monday.

The AMSG is a new mining pressure group that aims to coordinate, inform, guide, advance, secure and protect Africa’s strategic interests and benefits in the global mining industry.

The group was formed on the sidelines of the 30th edition of Investing in Africa Indaba, a major mining conference held in Cape Town, South Africa, from February 5 to 8, 2024.

The event was attended by ministers of mineral development from more than 15 African countries, including Uganda, Democratic Republic of Congo (DRC), Sierra Leone, Somalia, South Sudan, Chad, Botswana, Zambia and Namibia.

More countries are expected to join the initiative as the AMSG under Nigeria’s leadership swings into action.

A Common Front for Value Addition

Speaking at the signing of the resolution, Dr. Alake said that the AMSG will forge a common front to get maximum benefits from the mineral resources on the continent.

He stressed that the era of carting away solid minerals is over, and that countries on the continent will speak with one voice on value addition as a prerequisite for investment in the mining sector.

“Today, there is an economic scramble for Africa. The critical metals needed for the energy transition are in Africa. Therefore, if we do not come together this time around and take our destinies in our hands, we will go through the same harrowing experiences of the past. That is why we formed this body,” he said.

He added that the AMSG will also coordinate the collaboration, support and investments between Africa and Saudi Arabia, under the Future Minerals Forum (FMF) Framework.

The FMF is a platform that aims to promote the development of the mining sector in the Middle East and Africa, as well as the use of clean and renewable energy sources.

Dr. Alake said that Nigeria and Uganda had rallied other African ministers of solid minerals in January, on the sidelines of the FMF in Riyadh, Saudi Arabia, on the need to unite and champion value addition in the mining sector to boost the economy of African countries.

“Let those who want our minerals know that if you go to country A, you have the same regulations and laws guiding the sector. You go to country B, you find the same. So, there is no divide and rule anymore. That is when we can show sincerity of purpose, and the world will begin to take Africa seriously. On behalf of our president, I pledge our full support to achieve our objectives,” he said.

A Brighter Future for Africa

The AMSG is poised to revolutionize Africa’s minerals-based industrialization by proactively engaging with the new conditions arising from the energy transition and enhancing the existing bodies of mineral development policies.

The group will also advocate for the protection of the environment, the rights of the local communities, and the fair distribution of the mining revenues.

By harnessing the potential of the mining sector, the AMSG hopes to create a brighter future for Africa, where the continent can enjoy the benefits of its own resources, and contribute to the global sustainable development goals.

Source: Vanguard